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Currency Market Analysis

Mar 06, 2018 | Currency Market Analysis

Global Themes

Greenback, CAD pressured on trade war woes

The USDSGD slipped back to one-week lows as markets continued to react to increasing fears of trade wars.

Global markets have been rocked by the announcement of new tariffs on US imports of steel and aluminium.

US shares were sharply lower last week as fears grew of potential retaliatory action.

Mixed

The USDSGD fell 0.1% as the US dollar felt pressure.

The Canadian dollar saw the largest losses – down 1.0% versus the SGD – with Canada’s large trade exposure hurting the currency.

The euro and British pound were both higher. The Japanese yen fell 0.5%.

RBA

The Reserve Bank of Australia decision, due at 11.30am, will be the major event in today’s Asian session.

Tonight, US factory orders will be closely watched.


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